BATESVILLE, Ind., Dec. 22, 2015 -- Hillenbrand, Inc. (NYSE: HI) has entered into a definitive agreement to acquire Red Valve Company, Inc. for $131.9 million in cash, including $3.3 million for related real estate. The transaction is expected to close within 30 days, upon receipt of regulatory approval.

Based in Carnegie, Pa.,
Red Valve is a global leader in highly-engineered valves designed to
operate in the harshest municipal and industrial wastewater
environments. Its products support mission critical applications in
water, power and mining and other general industrial markets. At the
completion of the transaction, Red Valve will join Hillenbrand's Process
Equipment Group, which includes ABEL, a globally-recognized leader in
positive displacement pumps.

"This acquisition advances Hillenbrand's strategy to transform into a world-class global diversified industrial company," said Joe Raver,
President and CEO of Hillenbrand. "We believe Red Valve will complement
our recent ABEL acquisition, increasing our ability to expand into new
end markets and geographies within the highly attractive flow control
space."

During the trailing 12-month period ending on Nov. 30, 2015, Red Valve's revenue was approximately $38.6 million, and its adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was nearly $12.1 million, excluding $1.9 million in non-recurring expenses.

"We are excited about the opportunities Hillenbrand brings to our company," said Chris Raftis,
President of Red Valve. "Hillenbrand has a global footprint that
provides us with a significant opportunity for international growth and
we look forward to working with the company to achieve our strategic
vision."

Hillenbrand expects to use cash on
hand and cash available under its revolving credit facility to fund
this acquisition. The transaction is expected to be accretive to
Hillenbrand's 2016 adjusted earnings per share, net of acquisition
costs.

About HillenbrandHillenbrand (www.Hillenbrand.com)
is a global diversified industrial company with multiple market-leading
brands that serve a wide variety of industries across the globe. We
pursue profitable growth and robust cash generation in order to drive
increased value for our shareholders. Hillenbrand's portfolio is
composed of two business segments: the Process Equipment Group and
Batesville. The Process Equipment Group businesses design, develop,
manufacture and service highly engineered industrial equipment around
the world. Batesville is a recognized leader in the North American death care industry. Hillenbrand is publicly traded on the NYSE under "HI".

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